Wee Hur Holdings Ltd. · SGX:E3B
Wee Hur — Shareholder Meeting (February 2025)
20 slides from Wee Hur's shareholder meeting presentation, Feb 26, 2025
Slide 1: SGX Announcement: Extraordinary/Special General Meeting
REPL::EXTRAORDINARY/ SPECIAL GENERAL MEETING::VOLUNTARY Issuer & Securities Issuer/ Manager WEE HUR HOLDINGS LTD. Security WEE HUR HOLDINGS LTD. - SG1W55939399 - E3B Announcement Details Announcement Title Extraordinary/ Special General Meeting Date &Time of Broadcast 26-Feb-2025 19:30:27 Status Rep
Slide 2: Meeting Venue
Place Venue(s) Venue details The EGM of the Company will be convened and held at Singapore Polytechnic Graduates' Guild (SPGG), 1010 Dover Road Singapore 139658 (SP Gate 4), Grand Ballroom, Level 3 on Meeting Friday, 28 February 2025 at 11.00 a.m.. Venue There will be no option for shareholders to p
Slide 3: Wee Hur Holdings Ltd. Extraordinary General Meeting
WEE HUR HOLDINGS LTD. EXTRAORDINARY GENERAL MEETING 28 February 2025 Background picture: Y Suites on Margaret, Sydney
Slide 4: Contents
CONTENTS GENERAL AGENDA OF EGM ORDINARY RESOLUTION: THE PROPOSED DISPOSAL A. OVERVIEW B. INFORMATION OF THE VENDOR (Wee Hur PBSA Master Trust) C. INFORMATION OF THE PURCHASER (GS Australia Student Venture I Mid Trust) D. PRINCIPAL TERMS E. RATIONALE F. WEE HUR’S STAKE IN THE GS HEAD TRUST DIRECTORS’
Slide 5: General
GENERAL The purpose of this presentation is to provide an overview of the Circular for shareholders to have a better understanding of the EGM before casting their votes. Shareholders are advised to run through the contents of the Circular before voting. Capitalised terms used in this presentation, u
Slide 6: Agenda of EGM
AGENDA OF EGM SEEKING SHAREHOLDERS’ APPROVAL FOR THE PROPOSED DISPOSAL • To seek Shareholders’ approval for the Proposed Disposal on the terms and conditions of the Disposal Transaction Documents, the principal terms of which are set out in the Circular. • The Proposed Disposal comprises of the disp
Slide 7: The Proposed Disposal: Overview
THE PROPOSED DISPOSAL A. OVERVIEW • As announced on 16 December 2024, the Company intends to undertake the Proposed Disposal which consist of a series of transaction which will result in the Company reducing its effective indirect interest in the Sales Units of each of the Target Group Trusts from 5
Slide 8: The Proposed Disposal
THE PROPOSED DISPOSAL | ee | Page 6
Slide 9: The Proposed Disposal
THE PROPOSED DISPOSAL | Page 7
Slide 10: Information on the Vendor (Wee Hur PBSA Master Trust)
THE PROPOSED DISPOSAL B. INFORMATION ON THE VENDOR (Wee Hur PBSA Master Trust) • The Wee Hur PBSA Master Trust (“WHPMT”) is a property trust constituted in Singapore on 21 December 2016 to undertake Purpose-Built Student Accommodation ("PBSA") developments in Australia by developing a portfolio of u
Slide 11: Vendor: Operating Portfolio Properties
THE PROPOSED DISPOSAL B. INFORMATION ON THE VENDOR (Wee Hur PBSA Master Trust) • WHPMT has 7 operational properties yielding 5,662 beds across 5 cities – Brisbane, Adelaide, Melbourne, Sydney, and Canberra. Operating Portfolio Properties (5,662 beds) UniLodge Park Central Y Suites City Gardens Y Sui
Slide 12: Information of the Purchaser (GS Australia Student Venture I Mid Trust)
THE PROPOSED DISPOSAL C. INFORMATION OF THE PURCHASER (GS Australia Student Venture I Mid Trust) • The GS Manager and Greystar Australia are controlled affiliates within a leading global real estate organisation, Greystar Real Estate Partners LLC (“GREP”), which has over 30 years of experience in in
Slide 13: Principal Terms: Headline Price and Conditions
THE PROPOSED DISPOSAL D. PRINCIPAL TERMS • The Headline Price: A$1.6 billion, which was arrived at on a willing-buyer willing-seller basis after negotiations which were conducted on an arm’s length basis between WH Capital (for and on behalf of the Vendor) and the Purchaser, taking into account seve
Slide 14: Principal Terms: Promissory Notes
THE PROPOSED DISPOSAL D. PRINCIPAL TERMS • Promissory Notes - As consideration for the Subscription, WH Australia will 1) Conditions endorse one or more Promissory Notes issued by the Company to WH Australia in favour of the GS Head Trust for an aggregate amount equal to approximately A$103,512,500.
Slide 15: Principal Terms: Estimated Net Proceeds
THE PROPOSED DISPOSAL D. PRINCIPAL TERMS Estimated Net Proceeds A$ S$ Headline Price 1,600,000,000 1,440,000,000 Less: Relevant Adjustments Existing Financing of the Target Group Trusts 566,476,613 509,828,952 Capital Gains Tax 110,055,678 99,050,110 Agreed Price Adjustment 7,500,000 6,750,000 Estim
Slide 16: Rationale
THE PROPOSED DISPOSAL E. RATIONALE a) The headline price of A$1.6 billion for the Proposed Disposal represents an uplift as compared to the aggregate market value of the Properties held under the Target Group Trusts, of A$1.54 billion as at 30 June 2024. b) It would enable the Company to substantial
Slide 17: Wee Hur's Stake in the GS Head Trust
THE PROPOSED DISPOSAL F. WEE HUR’S STAKE IN THE GS HEAD TRUST a) The decision to retain a 13% stake reflects our positive outlook for this asset class. The Company believes there is growth potential, and maintaining our investment enables us to generate a steady income stream from a diversified and
Slide 18: Directors' Recommendation
DIRECTORS’ RECOMMENDATION • Having considered, among others, the rationale and the benefits of the Proposed Disposal, the Directors are of the opinion that the Proposed Disposal is in the best interests of the Company. Accordingly, the Directors recommend that Shareholders vote in favour of the ordi
Slide 19: Undertaking to Vote
UNDERTAKING TO VOTE • As at the Latest Practicable Date, the aggregate shareholding interests of GSC Holdings Pte. Ltd., the Goh Directors and their respective Associates amount to approximately 59.13% of the total number of issued Shares in the Company. • Each of GSC Holdings Pte. Ltd and the Goh D
Slide 20: Thank You
CONTACT US Wee Ping GOH Chief Executive Officer Thank You Wee Hur Capital Pte. Ltd. Chief Investment Offer Wee Hur Holdings Ltd. Email: gohweeping@weehur.com.sg Janet LIM Chief Financial Officer Wee Hur Holdings Ltd. Email: janetlim@weehur.com.sg HEAD OFFICE 39 Kim Keat Road Wee Hur Building Singapo
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